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Sleep Cheap is a private camping ground near the Boulder peak Recreation Area. It has compiled the following financial information as of December 31,2014. (a)

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Sleep Cheap is a private camping ground near the Boulder peak Recreation Area. It has compiled the following financial information as of December 31,2014. (a) Determine net income from Sleep Cheap for 2014. (b) Prepare a retained earnings statement and a balance sheet for Sleep Cheap as of December 31, 2014

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